Sales of US dollars to the health sector drop 13.5% in 2012

Venezuela's Foreign Exchange Administration Commission (Cadivi) prioritized the sale of US dollars to the food sector, which amounted to USD 7.2 billion, a 15% increase as against 2011

Based on official data, the health sector was sold USD 4.01 billion (File photo)

MAYELA ARMAS H.| EL UNIVERSAL

Thursday February 07, 2013 10:58 AM

Venezuela's Foreign Exchange Administration Commission (Cadivi) approved in 2012 the sale of USD 25.7 billion for imports, just 2.6% above the figure recorded in 2011.

Cadivi data reveals that the largest amount of US dollar was oriented to food and machinery, while a smaller portion (USD 4.01 billion) was sold to the health sector, which recorded a 13.5% setback with respect to 2011 (USD 4.6 billion).

Spokespersons of the health sector informed this week that restrictions imposed by the Venezuelan Government throughout 2012 hit liquidity, causing delays to pay suppliers and hitting domestic supply in turn.

Likewise, the sale of US dollars to the automobile sector declined 14%, from USD 3.1 billion in 2011 to USD 2.6 billion in 2012.

Based on Cadivi data, priority was given to the food sector, which received USD 7.2 billion, 15% higher than in 2011 (USD 6.3 billion). Despite the higher amount of US dollars sold to this sector, the approval of the relevant sales was slow.

Translated by Jhean Cabrera

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Hundreds of thousands of demonstrators took to the streets of Brazil on March 13 to demand the ouster of embattled President Dilma Rousseff, carrying banners expressing anger at bribery scandals and economic woes. A banner read "We don't want a new Venezuela in Brazil."